Whirlpool Corporation announced it recently received the 2005 American Business Ethics Award from the Society of Financial Service Professionals (FSP). The Society established the award in 1994 to honor companies that exemplify high standards of ethical behavior in their everyday business conduct and in response to specific crises or challenges.
"Throughout the years, Whirlpool has built a culture of doing the right thing based on living up to our commitment to stakeholders and by quietly working behind the scenes to strengthen the economic and social fabric of the communities in which we operate," said Jeff M. Fettig, Whirlpool's chairman, president and CEO.
The company offers programs that include affordable housing, safety, health care and youth opportunities. Globally, Whirlpool made a 5-year, U.S. $25 million commitment in 2000 to Habitat for Humanity International and has extended that partnership globally for years to come.
As an employer, Whirlpool maintains a focus on diversity and was a pioneer in the establishment of a confidential ethics hotline (1993). In addition, the company offers a comprehensive ethics program that incorporates a wide range of internal communication vehicles, training programs, employee surveys, and leadership assessments.
In its demonstration of ethical behavior to shareholders, Whirlpool is compliant with the Sarbanes-Oxley Act and has established multiple internal control and audit groups. Whirlpool also actively participates in the Energy Star program and has been recognized repeatedly for its energy saving initiatives in both its product innovations and its commitment to reduce the company's global greenhouse emissions.
The company was nominated for the award by the Southwestern Michigan Chapter of the Society of FSP and by Mike Damschroder, a member of the chapter's board of directors.
The awards are presented in three categories: large companies (over 2,500 employees), midsize companies (250 - 2,500 employees) and small companies (under 250 employees). Whirlpool received the award in the large company category.
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